EXTENSION FOR COMPLETION OF CEP CREDIT POINTS FOR F.Y. 2020-2021 AND 2021-2022
GOLDEN OPPORTUNITY FOR ALL REGISTERED VALUERS!
Dear Registered Valuer Member (s),
As per minutes of the 42nd meeting held with the MDS/CEOs of Registered Valuers’ Organisations (RVOs) held on 7 th September 2021 following decisions are taken by the authority:
3 b) Compliance with COP requirements: RVOs were requested to ensure that an RV takes up a valuation assignment only after obtaining a certificate of practice (COP) from the RVO where he is enrolled as a member. All the RVOs confirmed the compliance, except DJF which sought some time to confirm the same. It was clarified that if a registered valuer is practicing, he is required to obtain COP, and if not, the COP may be surrendered.
CPE requirements: As discussed in the 40th monthly meeting, the CPE requirements by RVs were examined by the IBBI and it was decided that an RV shall undertake a minimum of 10 credit hours of CPE in each financial year and a minimum of 48 credit hours of CPE in each rolling block of 3 years. This would be reviewed after the close of the current rolling block of CPE, that is, 2020-2023.
As you are aware that the authority IBBI has recently changed the CEP guidelines as per Agenda No.9. CPE requirements as mentioned above for all the registered valuers.
• As per new guidelines, It is not mandatory to earn 16 CEP Credit Points in a financial year, rather it has now been amended to undertake a minimum 10 Credit Hours of CEP in one financial year starting from April 01, 2020”
And
• “A minimum of 48 Credit Hours of CPE/CEP in each rolling block of 3 years starting from April 01, 2020, to March 31, 2023, failing which, Certificate of Practice shall not be renewed.
CEP CRITERIA: MINIMUM POINTS
In one year (Starting from April 01, 2020) Minimum of 10 Credit Points
In Three years block (Starting from April 01, 2020, to March 31, 2023) Minimum of 48 Credit Points
FOR INSTANCE:
1) 1st yr 2020-2021 16 pts attended
2nd yr 2021-2022 10 pts attended
3rd yr 2022-2023 48-26=22pts to be attended
2) 1st yr 2020-2021 15 pts attended
2nd yr 2021-2022 10 pts attended
3rd yr 2022-2023 48-254=23pts to be attended
3) 1st yr 2020-2021 16 pts attended
2nd yr 2021-2022 16 pts attended
3rd yr 2022-2023 48-32=16 pts to be attended
4) 1st yr 2020-2021 08 pts attended (not eligible to renew COP for next year, min 10 pts are required)
2nd yr 2021-2022 16 pts attended
3rd yr 2022-2023 48-24=24pts to be attended
In continuation to above, it is notified to all the Registered Valuers who have pending CEPs from 1st April 2020 to March 31, 2022, kindly, complete their minimum 24 CEP points till March 31, 2022, so that your COP certificate shall be renewed for the F.Y 2022- 2023.
For further assistance, we are available at our HELPLINE number mentioned on the website of CEV IAF RVO or write us at cevajalindia@gmail.com
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